The property website Zoopla has announced that it will end its sponsorship of West Bromwich Albion at the end of the current season.

Zoopla has been reviewing its position over the past few weeks in light of the actions of the striker Nicolas Anelka who is alleged to have made a gesture known as the quenelle, which many consider to have antisemitic connotations, in the match against West Ham over the Christmas period.

Zoopla said it had decided to focus its attention on other marketing activities after this season.

In a statement it said: "Zoopla has worked closely with the club and the local community throughout its two-season sponsorship, having committed over £100,000 to the Albion Foundation and other local charities, and will continue to meet its obligations for the rest of the current season."

The Football Association has been looking into the gesture and has been working with an "appointed expert" as part of its investigation. The FA did not name the expert, who was appointed by its governance division to provide detailed knowledge and opinion about the gesture, which was made by the West Brom striker after scoring against West Ham on 28 December.

The quenelle – which translates literally as "dumpling" in English – is a straight-arm salute with one arm pointing downwards and the other hand across the chest.

It was brought to prominence by the French comedian Dieudonne M'Bala M'Bala, who has been prosecuted for antisemitism, and the salute has been described by opponents as an inverted Nazi salute.

Dieudonne, who has been prosecuted by the French government for insulting the memory of Holocaust victims and holding antisemitic views, was recently banned from performing in Nantes.

Anelka has agreed not to perform the celebration again after West Brom conceded the gesture had caused offence but the French striker has denied the salute had any antisemitic connotations.

He said he made the gesture to show solidarity with his friend Dieudonne.

Zoopla became West Brom's principal sponsor in 2012, taking over from the betting firm Bodog.

The deal was reported to be the club's biggest and most comprehensive ever, worth £3m over two years.